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Why do I need Florida family health insurance?...
It's a question too often asked today. Unfortunately it has been made more difficult by the current economic situation. All is not hopeless. In fact there may be a way to get Florida family insurance and still be able to buy food and shelter.
Take into account the fact that previous to the current state of affairs the costs of medical coverage had creeped up to the point where it was largely unaffordable
for most Americans.
Is there a "best policy"?
Being a former agent my first response would have been for a person to buy the best coverage they could reasonably afford that I had to offer. Since leaving the industry I have done a complete 360 with my thinking. I no longer have a favorite carrier nor will I recommend one.
There is no perfect coverage you can buy. The fact of the matter is it simply does not exist. Disreputable agents will tell a person otherwise but they are not telling the truth. You the consumer must do your homework before talking to any agent.
Do you have several hundred thousand dollars sitting in the bank?
Cash is the only perfect coverage but only the rich and elite have those types of resources available. The rest of us have to settle for coverage which typically comes up way short if it is ever used for any serious medical emergency.
Since 97% of the U.S. population lives near or under the average middle-class income level having the cash around to cover medical emergencies is beyond reach.
So what can the average person do? I would urge you to first answer two questions. First, how much money could you get your hands on in a short amount of time. Second, what amount can you spend each month without causing financial strain.
What do I mean by this? I'd like to address the first question about getting your hands on some amount of money in a short time frame. During my time selling coverage I never found a single plan, be it managed care or true comprehensive insurance, that didn't require you to come up with money up front in the event of an illness or injury.
Sometimes this was only a few hundred dollars. Often it was thousands. It all depended on the plan. Regardless the consumer was responsible for coming up with a certain dollar amount out of pocket.
This certain amount is commonly called the deductible. This is the amount you the consumer are responsible for. Along with the deductible there is yet another out of pocket amount called the co-insurance. 90/10, 80/20, 50/50 are just a few choices.
Co-insurance is the amount you would pay out of pocket after the deductible has been satisfied. All told this can add up to thousands.
What's my point? I am suggesting you base your deductible and co-insurance amounts on how much money you can come up with in a pinch. Deciding this answers the second question of how much you are willing to pay monthly. A higher deductible and co-insurance amount combined will give you a lower premium and vice versa. You decide how much you can handle.
What types of Florida Family Insuranc plans are available?
Fortunately you have plenty of options for putting together the coverage you can afford and will give you at the very least enough coverage to avoid financial disaster. Here are the basic coverages with brief descriptions.
Fee-for-Service Health Plans
This is the traditional kind of health care policy. Health insurance companies pay fees for the services provided to the insured people covered by the policy. This type of health insurance offers the most choices of doctors and hospitals. You can choose any doctor you wish and change doctors any time. You can go to any hospital in any part of the country ... read more
High Deductible Health Plans
Whether you're still evaluating your options for medical coverage, or you're already covered by a conventional health care plan through an HMO or PPO, you should be aware of a fairly new option for health insurance called a High Deductible Health Plan (HDHP) ... read more |
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Understand that in order to get an accurate quote some health and personal information is required. |
Health Savings Accounts (HSA)
In the attempt to provide help and affordable options in health insurance to Americans, the idea of the Health Savings Account (HSA) arose. It is meant to replace high cost, low deductible health insurance policies that may be out of the reach of many Americans. It can also be used to supplement retirement if you are healthy because the money can stay in the account and grow with tax advantages ... read more
Self-Directed Health Plans
A self directed health plan (SDHP) combines the features of a PPO-based plan with the added feature of a Self Directed Account (SDA). The SDA is funded with a maximum quarterly allowance and yearly balance to use for certain types of routine or preventive care services. Unused funds roll over to next year, allowing enrollees to save for health care expenses ... read more
HMO: Health Maintenance Organizations
A health maintenance organization, or "HMO", is a prepaid health plan. As an HMO member, you pay a monthly premium. In exchange, the HMO provides comprehensive health care for you and your family, including doctors' visits, hospital stays, emergency care, surgery, laboratory (lab) tests, x-rays, and therapy... read more
POS: Point-of-Service Plans
Many HMOs offer an indemnity-type option known as a Point-of-Service or "POS" health care plan. The primary care doctors in a POS plan usually make referrals to other providers in the health plan. But in a POS plan, members can refer themselves outside the plan and still get some coverage... read more
PPO: Preferred Provider Organizations
The preferred provider organization, or "PPO", is a combination of traditional fee-for-service and an HMO. Like an HMO, there are a limited number of doctors and hospitals to choose from. When you use those providers (sometimes called "preferred providers", other times called "network providers"), most of your medical bills are covered... read more
Exclusive Provider Organization Plans (EPO Plans)
An EPO is a type of managed care system. The EPO network is made up of care providers which network members must choose from, although exceptions may be made for emergency situations.. Most EPOs require policyholders to choose a primary care physician who will handle most medical issues, and will issue referrals for specialists... read more
Discount Plans
Discount health plan organizations formed for the purpose of providing discount health coverage to members. As a customer, you agree to join the discount plan by filling out an application, and by paying for membership on a monthly or yearly basis. The discount plan can give you savings on medical, dental, vision, hearing, prescription, counseling, and more, depending on the plan... read more
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